Down with the evil Gas lords. (yes, i am brave enough to post another from myspace)

[Tuberski]

Originally posted by KrazyHorse


It tells you how an infinite sum can have a finite value.

So, you were commenting on the ad infinitum part.

ACK!

[Kaak]

Originally posted by KrazyHorse
By the way, I'd like to point out that ExxonMobil does not extract any oil from OPEC nations

My dad must have been really confused standing on the all of those Exxon rigs in Algeria then. But like I said, you clearly know more about this than me.

[KrazyHorse]

I really wonder where the **** Kaak thinks Exxon is spending all its money. It made 9.5% profit or so in 2005. How the **** did it manage that when it's selling gas at a 500% markup at the pump?

[KrazyHorse]

http://en.wikipedia.org/wiki/Saudi_Aramco

Recent production has averaged some 8 million barrels (1,300,000 m³) per day. That is more than twice the output of the next highest producer and nearly five times greater than the largest U.S. oil company.

EDIT: fixed quote tags

[Kaak]

http://news.bbc.co.uk/1/hi/world/americas/4544390.stm

Take a look at the article. Talking about Venezuela giving Exxon an ultimatum. Seems like that never would have taken place since Exxon isn't really there in the first place since Venezuela is an opec nation. Oh, it mentions something else in the headline about Exxon being the world's biggest oil company, but i guess that isn't true either since you said they were 5th or 6th in the production of oil.

Thanks for proving that most of the things you say come flying out of your ass without any basis in reality

[KrazyHorse]

But yeah, ExxonMobil is pushing around the Saudis (who have 5 times their production) and forcing them to keep oil prices high.

[KrazyHorse]

Oh, it mentions something else in the headline about Exxon being the world's biggest oil company, but i guess that isn't true either since you said they were 5th or 6th in the production of oil.

ExxonMobil is the world's largest (close to BP) PRIVATE OIL PRODUCING COMPANY

READ THE ****ING WIKI LINK, YOU MAROON

[Kaak]

KH- Don't you follow headlines? Recently, Saudi has been ignoring Opec production limits, so it makes since that they would be producing more oil *recently*

[snoopy369]

Did some research (runs scared from that word) ... According to the EIA, which is a department of the Department of Energy (don't ask) of the US Government ...

Study Homepage
(All stats are 2004 averages, as far as I could tell)

Crude prices in 2004 were around $36 a gallon (remember they're $66 and up now!!). Based on US averages, the price of a gallon of crude was around $1.22, compared to $1.32 for a gallon of gas, taking into account both "end users" and "resale/wholesale". (Wholesale was $1.29, end user was 1.44, for gas; $1.27 and $1.20 for crude)

So $0.15 was the profit for ye olde Mom and Pop gas station. Woo, big bucks.

Of course, we're really talking about the Refining companies, Mobil, Exxon, etc.

These sale prices are around $51 a barrel, based on 42 gallons per barrel, and averaging out everything based on composition of each gallon intended to End Users and Resellers (EU and RE in the below pic). Compare that to $37 or so a barrel on the open market (in 2004). That means that on a barrel of oil, the difference between ultimate selling price and original purchase price is about $14 a barrel. Based on FOB vs Landed costs, about $2-$3 (more from Arab countries, less from South America) goes to transportation for foreign oil (presumably transport costs for domestic is negligible, as it's not listed).

So there you go, $12 to $14 per barrel (in 2004) go to ye olde refining companies, minus the cost of refining which certainly isn't negligible. Who knows how this changed in 2005, with record per barrel prices of crude oil; my guess is down a bit, as actual end user gasoline prices didn't almost double (remember, taxes are on average 40 something % more). (I'm fairly sure the prices in this table aren't including taxes, as 0.15/gallon would be an absurdly low amount of tax.)

How again is a boycott of major gas stations going to affect any of this?? (Remember, there are only so many major oil refiners, so non-big 2 or big 3 or big howevermany you want gas stations still have to get their gas from someone, and often it's one of the big companies...) If there is only 10-15% profit available to the reseller, and the wholesaler is only making 30% gross (minus costs of doing business), I don't think a $3/gallon price is going to hit $1.30 any time this decade...

The big companies are probably hitting record prices because their costs of refining are static, and therefore if they keep the % constant, ie markup is a solid 30% over crude prices, refining costs are now nearly half what they were, as a percent; thus this half of refining costs is now all profit ...

[KrazyHorse]

Kaakie, honey

You're a ****ing idiot. They were producing more in 1998 too.

Exxon hasn't been the world's largest oil producing company for 20 years

[KrazyHorse]

http://www.gravmag.com/oil2.html

[KrazyHorse]

Yeah, Saudi Arabia has just recently QUINTUPLED its oil production.

You're a ****ing muppet

[snoopy369]

Forgot pic.

[KrazyHorse]

remember, taxes are on average 40 something % more

Taxes on gas are mostly excise taxes which are based on the sale in gallons, not dollars, so as prices increase the relative share of the taxes decreases.

[Kaak]

I like how you conveniently left out the preceeding sentence.

Saudi Aramco produces and exports more crude oil than any other company.